884-886 Lancaster Street, Albany, NY 12203
884-886 Lancaster Street, Albany, NY 12203
884-886 Lancaster Street, Albany, NY 12203
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Listed by Ellen Evans • Gendron's Property Management
$437,000
Est. payment /mo
8 Beds
2 Baths
2,940 SqFt
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Key Details

Property Type Multi-Family

Sub Type Duplex

Listing Status Active

Purchase Type For Sale

Square Footage 2,940 sqft

Price per Sqft $148

MLS Listing ID 202612518

Bedrooms 8

Full Baths 2

HOA Y/N No

Year Built 1900

Annual Tax Amount $10,466

Lot Size 6,534 Sqft

Acres 0.15

Property Sub-Type Duplex

Source Global MLS

Property Description

Located in Pine Hills, this 3,000 sq+ side by side duplex on a double-lot is a great opportunity for an investor or owner-occupant. Both units currently rented to stable tenants. Each unit has a kitchen, living room, and dining room on the first floor, 4 beds and 1 bath on the second floor. Large driveway provides off street parking for both units. Unit 1 is rented at $2,000/month and Unit 2 is rented at $2,050/month for total gross rent of $4,050/month ($48,600/year). Estimated operating expenses: taxes ($10,208/yr), insurance ($2,500/yr), and water/sewer ($700/yr), estimated total annual operating expenses of ~$13,408 and estimated NOI of ~$35,192/year (~$2,932.67/month). Estimated cap rate is ~7.6%.

Location

State NY

County Albany

Direction West on Madison Avenue to left on Pine to right on Lancaster

Interior

Heating Radiant

Flooring Wood

Exterior

Exterior Feature None

Parking Features Stone, Driveway

Roof Type Rubber,Shingle

Porch Wrap Around, Patio

Building

Sewer Public Sewer

Water Public

Architectural Style Traditional

New Construction No

Schools

School District Albany

Others

Tax ID 64.43-1-18 01

Special Listing Condition Standard

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